SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.


                                   FORM 10-QSB

[ X ]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
         EXCHANGE ACT OF 1934 FOR THE QUARTER ENDED SEPTEMBER 30, 2002.

                                       OR

[   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OT 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________________
         TO _______________.

                         Commission File No. - 000-30001


                       DARLINGTON COUNTY BANCSHARES, INC.
             (Exact Name of Registrant as Specified in the Charter)


                   Incorporated in the State of South Carolina
                I.R.S. Employer Identification Number 57-0805621


                    202 Cashua Street, Darlington, S.C. 29532
                    (Address of Principal Executive Offices)


                                 (843) 395-1956
              (Registrant's Telephone Number, including Area Code)



     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during the  preceding  12  months(or  for such  shorter  periods  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. [ X ] Yes [ ] No

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practicable date.


Common Stock - $.01 Par Value
158,000 Shares Outstanding on November 1, 2000



<PAGE>


                                     PART I
                              FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                       DARLINGTON COUNTY BANCSHARES, INC.
                           CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)

                                                                      (UNAUDITED)            (AUDITED)
                                                                     SEPTEMBER 30,          DECEMBER 31,
                                                                          2002                  2001
                                                                   -------------------   -------------------
ASSETS
<S>                                                                       <C>                    <C>
     Cash and due from banks                                              $      911             $     315
     Investment securities - held to maturity                                    641                   718
     Investment securities - available for sale                                7,332                 7,638
     Other investments, at cost                                                   50                    50
     Federal funds sold                                                        1,367                 3,513

     Loans                                                                    19,121                17,613
     Less allowance for loan losses                                             (194)                 (188)
                                                                   -------------------   -------------------


             Loans - net                                                      18,927                17,425
     Premises and equipment - net                                              1,018                 1,063
     Other assets                                                                397                   451
                                                                   -------------------   -------------------

             Total assets                                                $    30,643           $    31,173
                                                                   ===================   ===================

LIABILITIES
     Deposits
        Demand deposits                                                  $     4,311           $     4,910
        Savings and NOW accounts                                              15,593                12,744
        Other time deposits                                                    6,677                 9,705
                                                                   -------------------   -------------------

             Total deposits                                                   26,581                27,359
                                                                   -------------------   -------------------

     Other liabilities                                                           210                   120
                                                                   -------------------   -------------------

             Total liabilities                                                26,791                27,479
                                                                   -------------------   -------------------

STOCKHOLDERS' EQUITY
     Common stock - $.01 par value  authorized,
        issued and outstanding  158,000
        shares at September 30, 2002 and
        December 31, 2001                                                          2                     2
     Additional paid in capital                                                1,618                 1,618
     Retained earnings                                                         2,159                 2,096
     Accumulated other comprehensive loss                                         73                   (22)
                                                                   -------------------   -------------------

             Total stockholders' equity                                        3,852                 3,694
                                                                   -------------------   -------------------

             Total liabilities and stockholders' equity                  $    30,643           $    31,173
                                                                   ===================   ===================
</TABLE>



                 See notes to consolidated financial statements.



<PAGE>

<TABLE>
<CAPTION>

                       DARLINGTON COUNTY BANCSHARES, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                  (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA)
                                   (UNAUDITED)


                                                                THREE MONTHS ENDED                    NINE MONTHS ENDED
                                                                   SEPTEMBER 30,                        SEPTEMBER 30,
                                                         ----------------------------------   ----------------------------------
                                                             2002               2001               2002              2001
                                                         --------------    ----------------   ---------------   ----------------
INTEREST INCOME
<S>                                                         <C>                 <C>               <C>                <C>
    Loans, including fees                                   $      363          $      401        $    1,055         $    1,159
    Investment securities
       U. S. Government Agencies                                    78                  79               272                224
       Municipal securities                                          7                   7                22                 23
       Other equity securities                                       -                   1                 1                  2
    Federal funds sold and securities purchased
       under agreements to resell                                    6                  29                22                128
                                                         --------------    ----------------   ---------------   ----------------

            Total interest income                                  454                 517             1,372              1,536
                                                         --------------    ----------------   ---------------   ----------------

INTEREST EXPENSE
    Time deposits $100,000 and over                                  5                  18                26                 61
    Other deposits                                                 105                 174               335                553
                                                         --------------    ----------------   ---------------   ----------------

            Total interest expense                                 110                 192               361                614
                                                         --------------    ----------------   ---------------   ----------------

NET INTEREST INCOME                                                344                 325             1,011                922

PROVISION FOR LOAN LOSSES                                           18                  15                52                 45
                                                         --------------    ----------------   ---------------   ----------------

            Net interest income after provision for
            loan losses                                            326                 310               959                877
                                                         --------------    ----------------   ---------------   ----------------

NONINTEREST INCOME
    Service charges on deposit accounts                             94                  78               268                225
    Other service charges, commissions and fees                     12                  10                20                 20
                                                         --------------    ----------------   ---------------   ----------------

            Total noninterest income                               106                  88               288                245
                                                         --------------    ----------------   ---------------   ----------------

NONINTEREST EXPENSES
    Salaries and employee benefits                                 165                 130               486                415
    Data processing                                                 37                  27               106                 75
    Occupancy                                                       19                  17                55                 50
    Furniture and equipment                                         22                  15                62                 42
    Other                                                           55                  88               208                238
                                                         --------------    ----------------   ---------------   ----------------

            Total noninterest expenses                             298                 277               917                820
                                                         --------------    ----------------   ---------------   ----------------

    Income before income taxes                                     134                 121               330                302
    Provision for income taxes                                      37                  28               109                 73
                                                         --------------    ----------------   ---------------   ----------------

            Net income                                        $     97            $     93         $     221           $    229
                                                         ==============    ================   ===============   ================

PER SHARE
    Average shares outstanding                                 158,000             158,000           158,000            158,000
                                                         ==============    ================   ===============   ================

    Net income                                                $    .61            $   0.59         $    1.40          $    1.45
                                                         ==============    ================   ===============   ================

    Dividends paid                                            $      -            $      -         $    1.00          $    1.00
                                                         ==============    ================   ===============   ================
</TABLE>

                 See notes to consolidated financial statements.


<PAGE>
<TABLE>
<CAPTION>

                       DARLINGTON COUNTY BANCSHARES, INC.
                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



                                           COMMON STOCK                                            ACCUMULATED
                                    ---------------------------
                                      NUMBER                      ADDITIONAL                          OTHER
                                        OF                         PAID IN         RETAINED       COMPREHENSIVE
                                      SHARES         AMOUNT        CAPITAL         EARNINGS       INCOME (LOSS)         TOTAL
                                    ------------  -------------  -------------  ---------------  -----------------  --------------

<S>                                     <C>       <C>             <C>             <C>              <C>                <C>
BALANCE, JANUARY 1,
      2001                              158,000   $          2    $     1,618     $     2,003      $          (35)    $    3,588

Net income for period                         -              -              -             229                   -            229

Comprehensive income, net of tax
     Net change in unrealized
       gain       on securities
       available for sale                     -              -              -               -                  68             68
                                                                                                 -----------------  --------------

     Comprehensive income                                                                                                    321

Cash dividend ($1.00 per share)               -                             -            (158)                  -           (158)
                                    ------------  -------------  -------------  ---------------  -----------------  --------------

BALANCE, SEPTEMBER 30, 2001             158,000   $         2    $     1,618    $       2,074     $            33      $   3,727
                                    ============  =============  =============  ===============  =================  ==============


BALANCE, JANUARY 1, 2002                158,000   $         2     $    1,618    $       2,096     $           (22)    $    3,694

Net income for period                                                                     221                   -            221

Comprehensive income, net of tax
     Net change in unrealized gain
       on securities available for
       sale                                                                                                    95             95
                                                                                                 -----------------  --------------

     Comprehensive income

Cash dividend ($1.00 per share)                                                          (158)                              (158)
                                    ------------  -------------  -------------  ---------------  -----------------  --------------

BALANCE, SEPTEMBER 30, 2002
                                        158,000   $         2    $     1,618    $       2,159     $           73       $   3,852
                                    ============  =============  =============  ===============  =================  ==============


</TABLE>


                 See notes to consolidated financial statements.



<PAGE>

<TABLE>
<CAPTION>
                       DARLINGTON COUNTY BANCSHARES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (DOLLARS IN THOUSANDS)
                                   (Unaudited)

                                                                                                 NINE MONTHS ENDED
                                                                                                   SEPTEMBER 30,
                                                                                        -------------------------------------
                                                                                              2002                2001
                                                                                        -----------------   -----------------
OPERATING ACTIVITIES
<S>                                                                                         <C>                    <C>
     Net income                                                                             $       221            $    229
     Adjustments to reconcile net income to net cash provided
        by operating activities
        Provision for loan losses                                                                    52                  45
        Depreciation                                                                                 53                  38
        (Increase) decrease in other assets                                                          54                 150
        Increase (decrease) in other liabilities                                                     90                  (2)
                                                                                        -----------------   -----------------

               Net cash provided by operating activities                                            470                 460
                                                                                        -----------------   -----------------

INVESTING ACTIVITIES
     (Increase) decrease in federal funds sold                                                    2,146                 406
     Proceeds from maturities of investment securities
        held to maturity                                                                             77                   -
     Proceeds from maturities of investment securities available for sale                           894                   -
     Purchase of investment securities available for sale                                        (3,602)               (631)
     Net increase in loan balances                                                                1,502               (2492)
     Purchase of equipment                                                                           45                (254)
                                                                                        -----------------   -----------------

               Net cash provided by (used for) investing activities                               1,062              (2,971)
                                                                                        -----------------   -----------------

FINANCING ACTIVITIES
     Net increase (decrease) in deposits                                                           (778)              2,759
     Cash dividends paid                                                                           (158)               (158)
                                                                                        -----------------   -----------------

               Net cash used for financing activities                                              (936)              2,601
                                                                                        -----------------   -----------------

               Increase (decrease) in cash and cash equivalents                                     596                  90

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                                      315               1,090
                                                                                        -----------------   -----------------

CASH AND CASH EQUIVALENTS,  END OF PERIOD                                                       $   911           $   1,180
                                                                                        =================   =================


CASH PAID FOR
     Interest                                                                                   $   361           $     325
                                                                                        =================   =================

     Income taxes                                                                               $   109           $     105
                                                                                        =================   =================

</TABLE>

                 See notes to consolidated financial statements.



<PAGE>


                       DARLINGTON COUNTY BANCSHARES, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 - BASIS OF PRESENTATION

           The accompanying unaudited financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  to Form  10-QSB  and  Item  310(b)  of
Regulation S-B of the Securities and Exchange Commission.  Accordingly,  they do
not  include all  information  and  footnotes  required  by  generally  accepted
accounting principles for complete financial statements. However, in the opinion
of management,  all  adjustments  (consisting of normal  recurring  adjustments)
considered necessary for a fair presentation have been included.

NOTE 2 - NET INCOME PER SHARE

           Net income per share is computed on the basis of the weighted average
number of common shares  outstanding  in accordance  with Statement of Financial
Accounting   Standards  No.  128,   "Earnings  per  Share".   Darlington  County
Bancshares,  Inc.  (the  "Company")  does  not have any  instruments  which  are
dilutive;  therefore,  only  basic  net  income  per  share of  common  stock is
presented.

NOTE 3 - ORGANIZATION

           The  Company  was  organized  in July 1999 for the purpose of being a
holding  company  for  Darlington  County  Bank (the  "Bank").  On July 1, 1999,
pursuant  to a  Plan  of  Merger  approved  by  the  shareholders,  all  of  the
outstanding  shares of capital stock of the Bank were  converted  into shares of
common stock of the Company.  A par value conversion of $788,000 was recorded in
July 1999 to  reflect a change in the par value of common  stock  from $5.00 per
share to $.01 per share. The Company presently engages in no business other than
that of owning the Bank and has no employees.

ITEM 2.

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL  CONDITION  AND RESULTS OF
OPERATIONS

           The following  discussion and analysis  should be read in conjunction
with the financial  statements and related notes appearing in the Company's 2001
Annual Report to shareholders.  Results of operations for the nine months ending
September 30, 2002 are not necessarily  indicative of the results to be attained
for any other period.  The  following  information  may contain  forward-looking
statements that involve risks and  uncertainties.  The Company's  actual results
may  differ  materially  from  the  results  discussed  in  the  forward-looking
statements.

NINE MONTHS ENDED SEPTEMBER 30, 2002 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30,
2001

RESULTS OF OPERATIONS - NINE MONTHS ENDED SEPTEMBER 30, 2002
   The  Company's  net income for the nine months ended  September  30, 2002 was
   $221,000  or $1.40 per share as  compared  to $229,000 or $1.45 per share for
   the nine  months  ended  September  30,  2001.  Net income  decreased  due to
   tightening  interest rate spreads  because of an overall lower  interest rate
   environment compared to the comparable period in the prior year.


                                                                     (Continued)
<PAGE>

ITEM 2: (CONTINUED)

NET INTEREST INCOME
   Net interest income is the difference  between the interest earned on earning
   assets and the interest paid for funds acquired to support those assets.  Net
   interest income, the principal source of the Bank's earnings,  was $1,011,000
   and  $922,000  for the  nine  months  ended  September  30,  2002  and  2001,
   respectively.

   Changes  that affect net  interest  income are  changes in the  average  rate
   earned  on  interest-earning  assets,  changes  in the  average  rate paid on
   interest-bearing  liabilities,  and changes in the volume of interest-earning
   assets and interest-bearing liabilities.

   Interest-earning  assets for the third quarter of 2002  decreased by $333,000
   or 1.15%  since the same  period in the prior  year,  while  interest-bearing
   liabilities  increased by $928,000 or 3.37%  comparing  the third  quarter of
   2002 with the third quarter of 2001.

<TABLE>
<CAPTION>
                                                         AVERAGE BALANCES, INCOME AND EXPENSES, AND RATES

                                                              FOR THE NINE MONTHS ENDED SEPTEMBER 30,
                                        --------------------------------------------------------------------------------------
                                                          2002                                       2001
                                         ------------------------------------------ ------------------------------------------
                                            AVERAGE       INCOME/      ANNUALIZED      AVERAGE       INCOME/      ANNUALIZED
                                            BALANCE       EXPENSE      YIELD/RATE      BALANCE       EXPENSE      YIELD/RATE
                                         -------------- ------------- ------------- -------------- ------------ --------------

<S>                                      <C>            <C>                  <C>       <C>         <C>                 <C>
Federal funds sold                       $   1,738,432  $    22,000          1.69%     $3,651,685  $   128,000         4.67%
Investment securities                        8,590,285      294,000          4.56%      5,742,398      249,000         5.78%
Loans                                       17,994,162    1,055,000          7.82%     17,949,393    1,159,000         8.61%
                                         -------------- ------------- ------------- -------------- ------------ --------------

     Total earning assets                $  28,322,879    1,371,000          6.45%  $  27,343,476    1,536,000         7.49%
                                         ==============                             ==============

     Total interest bearing liabilities   $ 27,016,570      361,000          1.78%   $ 26,080,599      614,000         3.14%
                                         ============== ------------- ------------- ============== ------------ --------------

Net interest spread                                                          4.67%                                     4.35%

Net interest income/margin                               $1,010,000          4.75%                  $  922,000         4.50%
                                                        ============= =============                ============ ==============
</TABLE>

As  reflected  above,  for the nine months of 2002 the average  yield on earning
assets  amounts  amounted to 6.45%,  while the average cost of  interest-bearing
liabilities was 1.78%. For the same period of 2001, the average yield on earning
assets was 7.49% and the average cost of interest-bearing liabilities was 3.14%.
The decrease in the yield on earning assets is attributable to a decrease in the
yield on all  interest  earning  assets  offset  by an  increase  in  investment
securities.  The net interest margin is computed by subtracting interest expense
from   interest   income  and   dividing   the   resulting   figure  by  average
interest-earning assets. The net interest margin for the nine month period ended
September  30, 2002 was 4.75% and for the  comparable  period in 2001 was 4.50%.
This  increase  was  the  result  purchasing  higher  interest  rate  investment
securities in place of federal funds.

The following  table  represents  changes in the  Company's net interest  income
which primarily result from changes in volume and rates of its  interest-earning
assets and interest-bearing  liabilities. The increase(?) in net interest income
is due  to  increased  volume  of  both  earning  assets  and  interest  bearing
liabilities offset by a decrease in rates on earning assets and interest bearing
liabilities.







                                                                     (Continued)
<PAGE>

ITEM 2: (CONTINUED)

NET INTEREST INCOME, CONTINUED
<TABLE>
<CAPTION>

                                                                      ANALYSIS OF CHANGES IN NET INTEREST INCOME
                                                                                 FOR THE NINE MONTHS ENDED
                                                                                  9/30/02 VERSUS 9/30/01
                                                                --------------------------------------------------------------
                                                                     VOLUME                 RATE              NET CHANGE
                                                                -------------------  -------------------  --------------------

<S>                                                                <C>                <C>                   <C>
Federal fund sold                                                  $    (119,225)     $         13,225      $      (106,000)
Investment securities                                                    219,536              (174,536)              45,000
Loans                                                                      5,139              (109,139)            (104,000)
                                                                -------------------  -------------------  --------------------

       Total earning assets                                               97,808              (262,808)            (165,000)

       Total interest on interest-bearing liabilities                     39,173                29,365             (253,000)
                                                                -------------------  -------------------  --------------------

Net interest income                                                $      58,635       $        29,365      $        88,000
                                                                ===================  ===================  ====================
</TABLE>

NONINTEREST INCOME
   Noninterest income for the nine months ended September 30, 2001 and 2000 were
   $288,000 and $245,000, respectively.  Noninterest income is comprised of fees
   and charges on deposits. Service charges on deposits increased over the prior
   year.

NONINTEREST EXPENSES
   Noninterest  expenses for the nine months ended  September  30, 2002 and 2001
   were $917,000 and $820,000, respectively.  Noninterest expenses increased due
   to cost of living and merit  increased in  salaries.  Other  components  were
   consistent  with  prior  year  due to the  results  of  operations  remaining
   relatively stable.

ALLOWANCE FOR LOAN LOSSES
   The allowance for loan losses was 1.02% of loans, net of unearned income,  at
   September 30, 2002 compared to .92% at September 30, 2001.  The provision for
   loan losses was $52,000 and $45,000 for the nine months ended  September  30,
   2002 and 2001, respectively. Management reviews the adequacy of the allowance
   on an ongoing basis and believes the allowance is adequate to fund  potential
   losses in the portfolio at September 30, 2002.

THREE MONTHS ENDED  SEPTEMBER 30, 2002 COMPARED TO THREE MONTHS ENDED  SEPTEMBER
30, 2001

RESULTS OF OPERATIONS - THREE MONTHS ENDED SEPTEMBER 30, 2002
   The  Company's  net income for the third  quarter of 2002 was $97,000 or $.61
   per share  compared  to  $93,000  or $.59 per share for the third  quarter of
   2001.

NET INTEREST INCOME
   Net interest income is the difference  between the interest earned on earning
   assets and the interest paid for funds acquired to support those assets.  Net
   interest income,  the principal  source of the Bank's earnings,  was $344,000
   and  $325,000  for  the  quarters   ended   September   30,  2002  and  2001,
   respectively.

NONINTEREST INCOME
   Noninterest  income  increased  due to higher  service  charges  collected on
   deposits.  During the three months ended  September 30, 2002 and 2001 amounts
   were $106,000 and $88,000, respectively.



                                                                     (continued)
<PAGE>

ITEM 2: (CONTINUED)

NONINTEREST EXPENSES
   Noninterest  expenses for the three months ended  September 30, 2002 and 2001
   were $298,000 and $277,000, respectively.  Noninterest expenses is comparable
   due to the results of operations remaining relatively stable.

PROVISION FOR LOAN LOSSES
   The  provision  for loan losses was $18,000 and $15,000 for the three  months
   ended September 30, 2002 and 2001,  respectively.  The 2002 (?) provision was
   consistent  with the third  quarter  of the prior year as the  allowance  was
   funded for the growth in the loan portfolio.

LIQUIDITY
   Liquidity  is the  ability to meet  current  and future  obligations  through
   liquidation or maturity of existing assets or the acquisition of liabilities.
   The Company manages both assets and liabilities to achieve appropriate levels
   of liquidity.  Cash and  short-term  investments  are the  Company's  primary
   sources of asset liquidity.  These funds provide a cushion against short-term
   fluctuations  in cash flow from  both  deposits  and  loans.  The  investment
   portfolio  is the  Bank's  principal  source of  secondary  asset  liquidity.
   However,  the  availability  of this source of funds is  influenced by market
   conditions.  Individual and commercial deposits are the Bank's primary source
   of funds for credit  activities.  The Bank also has an unused short-term line
   of  credit  to  purchase  Federal  funds  from  an  unrelated  bank  totaling
   $2,500,000.  Management  believes  that the Company's  liquidity  sources are
   adequate to meet its operating needs.

OFF-BALANCE SHEET RISK
   Through the operations of our bank, we have made  contractual  commitments to
   extend  credit in the  ordinary  course  of our  business  activities.  These
   commitments are legally binding  agreements to lend money to our customers at
   predetermined interest rates for a specified period of time. At September 30,
   2002, we had issued  commitments to extend credit of $ through  various types
   of  commercial  lending  arrangements.  We evaluate  each  customer's  credit
   worthiness on a case-by-case  basis.  The amount of collateral  obtained,  if
   deemed  necessary  by us upon  extension  of  credit,  is based on our credit
   evaluation  of the  borrower.  Collateral  varies  but may  include  accounts
   receivable,   inventory,  property,  plant  and  equipment,   commercial  and
   residential  real estate.  We manage the credit risk on these  commitments by
   subjecting them to normal underwriting and risk management processes.

LOANS
   Commercial,  financial and  agricultural  loans made up 33% of the total loan
   portfolio as of September  30, 2002,  totaling  $6,310,000.  Loans secured by
   real estate for construction  and land development  totaled $495,000 or 2% of
   the total loan portfolio while all other loans secured by real estate totaled
   $7,450,000  or 40% of the total loan  portfolio  as of  September  30,  2002.
   Installment loans and other consumer loans to individuals totaling $4,866,000
   comprised 25% of the total loan portfolio.

CAPITAL RESOURCES
   Stockholders'  Equity for the  Company  increased  by  $158,000  for the nine
   months of 2002. This net change includes an increase to equity for net income
   of $221,000 and an increase in unrealized  gains on investment  securities of
   $95,000 offset by cash dividends  paid of $158,000.  The Company's  equity to
   asset ratio was 12.57% on September  30,  2002,  as compared to 11.85% (?) on
   December 31, 2001.

   The  Federal  Deposit   Insurance   Corporation  has  issued  guidelines  for
   risk-based capital  requirements.  As of September 30, 2002, the Bank exceeds
   the capital requirement levels that are to be maintained.  The Bank's capital
   ratios were as follows:





                                                                     (continued)
<PAGE>

ITEM 2: (CONTINUED)
<TABLE>
<CAPTION>
                                                        CAPITAL RATIOS
                                                    (AMOUNTS IN THOUSANDS)
                                                                                                            ADEQUATELY
                                                                             WELL CAPITALIZED               CAPITALIZED
                                                    ACTUAL                     REQUIREMENT                  REQUIREMENT
                                          ---------------------------- ---------------------------- ---------------------------
                                             AMOUNT         RATIO         AMOUNT         RATIO         AMOUNT        RATIO
                                          -------------- ------------- ------------- -------------- ------------ --------------

<S>                                           <C>              <C>        <C>               <C>        <C>             <C>
Total capital (to risk weighted assets)       $ 3,973          19.18%     $  1,704          10.0%      $ 1,363         8.00%

Tier 1 capital (to risk weighted assets)        3,779          18.24%        1,023          6.00%          682         4.00%

Tier 1 capital (to average assets)              3,799          12.59%        1,332          5.00%        1,054         4.00%

</TABLE>

ASSET QUALITY
   Nonperforming assets as a percentage of loans and foreclosed property totaled
   .18% and .09% as of September  30, 2002 and December 31, 2001,  respectively.
   Nonperforming  assets were  $35,029 as of  September  30, 2002 and $15,900 at
   December 31, 2001.  Charge-offs  during the nine months ended  September  30,
   2002 and 2001 were $48,854 and $235,210, respectively.

 EFFECTS OF REGULATORY ACTION
   The management of the Company is not aware of any current  recommendations by
   regulatory  authorities,  which if they were to be implemented,  would have a
   material effect on liquidity, capital resources, or operations.

IMPACT OF INFLATION
   Unlike most  industrial  companies,  the assets and  liabilities of financial
   institutions  such as the Bank are primarily  monetary in nature.  Therefore,
   interest rates have a more significant  impact on the Bank's performance than
   do the effects of changes in the  general  rate of  inflation  and changes in
   prices.  In  addition,  interest  rates do not  necessarily  move in the same
   magnitude  as the  prices of goods and  services.  As  discussed  previously,
   management  seeks to manage  the  relationships  between  interest  sensitive
   assets and  liabilities in order to protect  against wide rate  fluctuations,
   including those resulting from inflation.

RECENTLY ISSUED ACCOUNTING STANDARDS
   Accounting  pronouncements  recently  issued  or  proposed  by the  Financial
   Accounting  Standards Board are not expected to have a material effect on the
   financial position of the Company.

ITEM 3:
CONTROLS AND PROCEDURES
   Based on their evaluation of the issuer's  disclosure controls and procedures
   (as defined in 17 C.F.R.  Sections  240.13a-14(c)  and  240.15d-14(c) as of a
   date  within  90 days  prior to the  filing  of this  quarterly  report,  the
   issuer's chief executive  officer and chief financial  officer concluded that
   the effectiveness of such controls and procedures were adequate.

   There were no  significant  changes in the issuer's  internal  controls or in
   other factors that could  significantly  affect these controls  subsequent to
   the date of their evaluation, including any corrective actions with regard to
   significant deficiencies and material weaknesses.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no  material  pending  legal  proceedings  to which the Company or its
subsidiary is a party or to which any of their property is subject.



<PAGE>

ITEM 2.  CHANGES IN SECURITIES

Not Applicable

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

Not Applicable

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There were no matters  submitted to security holders for a vote during the three
months ended September 30, 2002.

ITEM 5.  OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORT ON FORM 8-K

None

                                   SIGNATURES


In accordance with the requirements of the Securities  Exchange Act of 1934, the
Bank has duly caused  this report to be signed on its behalf by the  undersigned
thereunto duly authorized.



DARLINGTON COUNTY BANCSHARES, INC.
      Name of Company


By:  /s/ W. B. McCown, III                        Date:  November 14, 2002
     ---------------------------------------           -----------------------
     W. B. McCown, III, President and
     Chief Executive Officer


By:  /s/ Henry M. Funderburk, III                 Date:  November 14, 2002
     ---------------------------------------           -----------------------
     Henry M. Funderburk, III
     Executive Vice President
     Darlington County Bank
     Functioning as Chief Financial Officer
       Of the Company



<PAGE>


                                 CERTIFICATIONS

I, W. B. McCown, III, certify that:

1.     I have reviewed this quarterly report on Form 10-QSB of Darlington County
       Bancshares, Inc.:

2.     Based on my knowledge,  this quarterly report does not contain any untrue
       statement of a material fact or omit to state a material  fact  necessary
       to make the statements  made, in light of the  circumstances  under which
       such  statements  were made;  not  misleading  with respect to the period
       covered by this quarterly report;

3.     Based on my knowledge,  the  financial  statements,  and other  financial
       information  included in this  quarterly  report,  fairly  present in all
       material respects the financial condition, results of operations and cash
       flows of the  registrant  as of, and for,  the periods  presented in this
       quarterly report;

4.     The  registrant's  other  certifying  officers and I are  responsible for
       establishing  and  maintaining  disclosure  controls and  procedures  (as
       defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant  and
       we have:

a)              Designed such disclosure  controls and procedures to ensure that
                material information  relating to the registrant,  including its
                consolidated subsidiaries,  is made known to us by others within
                those  entities,  particularly  during  the period in which this
                quarterly report is being prepared;

b)              Evaluated  the   effectiveness of  the  registrant's  disclosure
                controls and procedures as of a date within 90 days prior to the
                filing date  of  this  quarterly report (the "Evaluation Date");
                and

c)              Presented in this  quarterly  report our  conclusions  about the
                effectiveness of the disclosure controls and procedures based on
                our evaluation as of the Evaluation Date:

5.       The registrant's other certifying officers and I have disclosed,  based
         on our most recent  evaluation,  to the  registrant's  auditors and the
         audit  committee  of  registrant's   board  of  directors  (or  persons
         performing the equivalent function):

a)              All  significant  deficiencies  in the  design or  operation  of
                internal  controls which could adversely affect the registrant's
                ability to record, process,  summarize and report financial data
                and have identified for the  registrant's  auditors any material
                weaknesses in internal controls; and

b)              Any fraud, whether or not material, that involves management  or
                other  employees who have a significant role in the registrant's
                internal controls; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly  report  whether  or not there  were  significant  changes in
         internal controls or in other factors that could  significantly  affect
         internal controls subsequent to the date of our most recent evaluation,
         including   any   corrective   actions   with  regard  to   significant
         deficiencies and material weaknesses.



By:   /s/ W. B. McCown, III                       Date: November 14, 2002
     ---------------------------------------           -----------------------
     W. B. McCown, III, President and
     Chief Executive Officer





<PAGE>


I, Henry M. Funderburk, III, certify that:

1.     I have reviewed this quarterly report on Form 10-QSB of Darlington County
       Bancshares, Inc.:

2.     Based on my knowledge,  this quarterly report does not contain any untrue
       statement of a material fact or omit to state a material  fact  necessary
       to make the statements  made, in light of the  circumstances  under which
       such  statements  were made;  not  misleading  with respect to the period
       covered by this quarterly report;

3.     Based on my knowledge,  the  financial  statements,  and other  financial
       information  included in this  quarterly  report,  fairly  present in all
       material respects the financial condition, results of operations and cash
       flows of the  registrant  as of, and for,  the periods  presented in this
       quarterly report;

4.     The  registrant's  other  certifying  officers and I are  responsible for
       establishing  and  maintaining  disclosure  controls and  procedures  (as
       defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant  and
       we have:

a)              Designed such disclosure  controls and procedures to ensure that
                material information  relating to the registrant,  including its
                consolidated subsidiaries,  is made known to us by others within
                those  entities,  particularly  during  the period in which this
                quarterly report is being prepared;

b)              Evaluated  the  effectiveness  of  the  registrant's  disclosure
                controls and procedures as of a date within 90 days prior to the
                filing date  of  this  quarterly report (the "Evaluation Date");
                and

c)              Presented in this  quarterly  report our  conclusions  about the
                effectiveness of the disclosure controls and procedures based on
                our evaluation as of the Evaluation Date:

5.       The registrant's other certifying officers and I have disclosed,  based
         on our most recent  evaluation,  to the  registrant's  auditors and the
         audit  committee  of  registrant's   board  of  directors  (or  persons
         performing the equivalent function):

a)              All  significant  deficiencies  in the  design or  operation  of
                internal  controls which could adversely affect the registrant's
                ability to record, process,  summarize and report financial data
                and have identified for the  registrant's  auditors any material
                weaknesses in internal controls; and

b)              Any  fraud, whether or not  material,  that involves  management
                or  other  employees  who  have  a  significant  role   in   the
                registrant's internal controls; and

6.       The registrant's other certifying officers and I have indicated in this
         quarterly  report  whether  or not there  were  significant  changes in
         internal controls or in other factors that could  significantly  affect
         internal controls subsequent to the date of our most recent evaluation,
         including   any   corrective   actions   with  regard  to   significant
         deficiencies and material weaknesses.



By:  /s/ Henry M. Funderburk, III                 Date:  November 14, 2002
     ---------------------------------------           -----------------------
     Henry M. Funderburk, III
     Executive Vice President
     Darlington County Bank
     Functioning as Chief Financial Officer
       Of the Company


<PAGE>


         CERTIFICATE OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002

W.B. McCown III, the President and Chief Executive  Officer of Darlington County
Bancshares,  Inc.  (the  "Company"),  hereby  certifies  that to the best of his
knowledge:

     1.   This  Quarterly  Report on Form 10-QSB of the Company  (the  "Report")
          fully  complies with the  requirements  of section 13(a) or 15(d),  as
          applicable,  of the Securities  Exchange Act of 1934 (15 U.S.C. 78m or
          78o(d)); and

     2.   The  information  contained  in this Report  fairly  presents,  in all
          material respects,  the financial  condition and results of operations
          of the Company at the dates and for the periods indicated.

The foregoing certification is made solely for the purpose of complying with the
requirements  of Section 906 of the  Sarbanes-Oxley  Act of 2002 (18 U.S.C.  ss.
1350)  and  may not be  relied  upon  by  anyone  for  any  other  purpose.  The
undersigned  expressly  disclaims any undertaking to update such  certifications
except as required by law.


Date:  November 14, 2002
       --------------------
                                          /s/ W. B. McCown, III
                                          ------------------------------------
                                          W.B. McCown III
                                          President and Chief Executive Officer


       CERTIFICATE OF THE CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906
                        OF THE SARBANES-OXLEY ACT OF 2002

Henry  Funderburk,  the Executive Vice President of Darlington  County Bank, the
only and  wholly-owned  subsidiary of Darlington  County  Bancshares,  Inc. (the
"Company"),  the closest equivalent to a chief financial officer of the Company,
hereby certifies that to the best of his knowledge:

     1.   This  Quarterly  Report on Form 10-QSB of the Company  (the  "Report")
          fully  complies with the  requirements  of section 13(a) or 15(d),  as
          applicable,  of the Securities  Exchange Act of 1934 (15 U.S.C. 78m or
          78o(d)); and

     2.   The  information  contained  in this Report  fairly  presents,  in all
          material respects,  the financial  condition and results of operations
          of the Company at the dates and for the periods indicated.

The foregoing certification is made solely for the purpose of complying with the
requirements  of Section 906 of the  Sarbanes-Oxley  Act of 2002 (18 U.S.C.  ss.
1350)  and  may not be  relied  upon  by  anyone  for  any  other  purpose.  The
undersigned  expressly  disclaims any undertaking to update such  certifications
except as required by law.


Date:  November 14, 2002
       --------------------

                                       /s/ Henry Funderburk
                                       -------------------------------------
                                       Henry Funderburk
                                       Executive Vice President
                                       Darlington County Bank
                                       Functioning as Chief Financial Officer
                                       Of the Company